Why the Treasury Wine (ASX:TWE) share price is jumping today

Treasury Wine Estates Ltd (ASX: TWE) shares are on the rise this morning after the company updated the market regarding a licensing agreement to progress its United States wine business. At the time of writing, the Treasury Wine share price is up 3.87% to $11.53.

Let’s take a look at what the Aussie wine producer reported.

What did Treasury Wine announce?

The Treasury Wine share price is on the move today on the back of the company’s latest positive announcement.

According to this morning’s release, Treasury Wine has entered into a long-term licensing agreement with The Wine Group. This will see popular brands such as Beringer Main & Vine,…